Switzerland Insurance Governance, Risk and Compliance Report 2019 – ResearchAndMarkets.com
The
The FINMA acts as an oversight authority for banks, insurance companies, exchanges, securities dealers, collective investment schemes, distributors and intermediaries in
The rules and regulations governing insurance companies, reinsurance companies, and intermediaries are stipulated in the Insurance Supervision Act 2004, last amended in 2016, the Insurance Supervision Ordinance 2005, as amended in 2016 and the FINMA Insurance Supervision Ordinance 2005 as amended in
Respective competent bodies such as the
Key Findings
-
The Financial Market Supervisory Authority governs and regulates the Swiss insurance industry - FDI of up to 100% is permitted in the Swiss insurance industry
- Swiss Solvency Test, a risk based solvency standard, similar to Solvency II in the EU, was introduced into the Swiss insurance industry in 2008
- Non-admitted insurance is not permitted in the Swiss insurance industry, except for marine, aviation and transit insurance, and reinsurance
- Motor, marine, and aviation liability insurance, health insurance, accident insurance, and fire insurance for buildings are the key classes of compulsory insurance in the Swiss insurance industry
Scope
- The report covers details of the insurance regulatory framework in
Switzerland . - The report contains details of the rules and regulations governing insurance products and insurance entities.
- The report lists and analyzes key trends and developments pertaining to the country's insurance regulatory framework.
- The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
- The report provides details of taxation imposed on insurance products and insurance companies.
Key Topics Covered:
1 INTRODUCTION
1.1 What is this Report About?
1.2 Definitions
2 GOVERNANCE, RISK AND COMPLIANCE
2.1 Legislation Overview and Historical Evolution
2.2 Latest Changes in Regulation
2.3 Legislation and Market Practice by Type of Insurance
2.3.1 Life insurance
2.3.2 Property insurance
2.3.3 Motor insurance
2.3.4 Liability insurance
2.3.5 Marine, aviation and transit insurance
2.3.6 Personal accident and health insurance
2.4
2.4.1 Health insurance
2.4.2 Marine liability insurance
2.4.3 Motor third-party liability insurance
2.4.4 Accident insurance
2.4.5 Aviation liability insurance
2.4.6 Clinical trials liability insurance
2.4.7 Professional indemnity insurance for insurance intermediaries or brokers
2.4.8 Third-party liability insurance for operators of nuclear installations
2.4.9 Fire insurance and insurance against natural forces for buildings
2.5 Supervision and Control
2.5.1
2.5.2
2.5.3
2.5.4
2.5.5
2.6 Non-Admitted Insurance Regulations
2.6.1 Overview
2.6.2 Intermediaries
2.6.3 Market practices
2.6.4 Fines and Penalties
2.7 Company Registration and Operations
2.7.1 Type of insurance organization
2.7.2 Establishing a local company
2.7.3 Foreign ownership
2.7.4 Types of license
2.7.5 Capital requirements
2.7.6 Solvency margin
2.7.7 Reserve requirements
2.7.8 Investment regulations
2.7.9 Statutory return requirements
2.8 Taxation
2.8.1 Insurance premium or policy taxation
2.8.2 Withholding taxes on premium paid overseas
2.8.3 Corporate tax
2.8.4 VAT
2.8.5 Captives
2.9 Legal System
2.9.1 Introduction
2.9.2 Access to court
2.9.3 Alternative dispute resolution (ADR)
3 APPENDIX
For more information about this report visit https://www.researchandmarkets.com/r/r7sbf5
View source version on businesswire.com: https://www.businesswire.com/news/home/20191202005860/en/
ResearchAndMarkets.com
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For
For GMT Office Hours Call +353-1-416-8900
Source:
Mitchell | Genex Acquires CompAlliance, Expanding and Enhancing Managed Care Services
A year after the big quake, many Alaska lives remain shaken
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News